Showtime is back in Los Angeles.

Only now, it's not at the Fabulous Forum, but rather at Dodger Stadium.

A group led by former Los Angeles Lakers legend Earvin "Magic" Johnson, who led the basketball club to five NBA titles, has agreed to buy the Los Angeles Dodgers for a record $2.15 billion.

Frank McCourt, who had been the subject of intense criticism from fans, is finally out as owner, but he has certainly cashed in. The over $2 billion price tag is much higher than many industry experts expected, but the Dodgers appear to be in the hands of a group who have a strong interest in the club's success.

From the outset of McCourt's plans to sell the team following pressure from Major League Baseballcommissioner Bud Selig, there had been hope that Johnson would lead a group to buy the team. There were several other strong candidates, but Johnson's group was the one most favored by fans.